Fiskars Group has signed an agreement to acquire the parent company of Danish design house Georg Jensen from Investcorp for EUR151.5 million (US$161 million).
Fiskars Group is a global home of design-driven brands for indoor and outdoor living including Fiskars, Gerber, Iittala, Royal Copenhagen, Moomin Arabia, Waterford, and Wedgwood, with presence in more than 100 countries.
Upon completion of the acquisition, Fiskars will assume the role of Georg Jensen’s new long-term owner and support its growth prospects.
With a rich heritage spanning over 119 years, Georg Jensen designs, manufactures, and distributes an extensive range of gold, silver, and diamond jewellery, watches, home decor, tableware, and hollowware, with a global presence of 2050 points of sale.
The company delivered a revenue increase of 16 per cent to $172 million during the period spanning pre-Covid year 2019 to 2022 and expects flat-to-modest revenue growth for 2023, in the face of constrained consumer spending and wholesaler buying caution.
The strategic transition to Fiskars’s ownership is anticipated to support Georg Jensen’s pursuit of growth and accelerate its market presence and expansion plans. The brand will join a Nordic group with a strong portfolio of renowned brands and deep expertise in the home category.
“The collaboration with Fiskars aligns seamlessly with our vision, and we are confident that it will propel Georg Jensen towards even greater heights,” said Mehul Tank, CEO of Georg Jensen.
